SimCorp, an investment management solutions provider, has appointed Thorvaldur Flemming Jensen as head of its application service provider (ASP) Division and member of the company’s executive management team, reporting directly to the CEO.

Jensen joined the company in 2011 as vice president and head of IT, after a long career managing IT organisations and heading large infrastructure outsourcing and application management initiatives. Before moving to SimCorp he worked at IT consultancy and outsourcer NNIT.

Jensen’s appointment comes as SimCorp’s clients are moving away from on premise outsourcing services towards the hosted solutions which the firm’s ASP division is responsible for.

Klaus Holse,  SimCorp'S chief executive, commented: “With more and more clients opting for a hosted solution rather than operating SimCorp Dimension on premise, we have decided to strengthen this line of business.”

SimCorp is looking to its ASP division to drive its income growth after a strong uptick in its American revenues. 

The firm has already signed two major North American clients in 2016 so far, a financial services provider and a state entity, both of which opted for the ASP’s SimCorp Dimension offering.